29Jun

Boat Insurance will cover you in the event of any extreme loss or damage that has occurred to your boat and will cover most water crafts that are motor-powered. As summer is now here with its many opportunities for fun and water-inspired thrills, this type of insurance will cover recreational fishing boats, pontoon boats, leisure crafts, yachts, and even paddle boats. If your boat of choice is a canoe or kayak, you usually do not have to opt for coverage. 

What Exactly does Boat Insurance Cover? Before you head out on the water to enjoy the sun and splash-induced thrills that the weekend commands, it’s important to know just how your boat policy from us here at the Alexander Insurance Agency of St Charles will allow you to enjoy your time out on the water while being protected. Here are some of the ways you can expect to protect yourself after you consult with us here to see which option is best for your wave-running slice of fun!

  • Collision Damage: This covers repairs or placement of your boat, but it might not include the cleanup of the actual wreckage unless you are willing to purchase optional additional coverage on the watercraft.
  • Property Damage Liability: This coverage will account for injury that you might cause anyone while you are enjoying your boat, such as medical expenses, loss of job income, and any expenses from legal proceedings. 
  • Comprehensive: Is a type of coverage that will provide conversation if your boat is stolen, vandalized, or severely damaged in an incident other of them a proven crash.
  • Additional Coverage Options: These will assist with providing coverage for medical payments, loss of fishing equipment, drastic oil spills, damage of your valuable personal property and even roadside assistance. It will also help with damage and injuries from any accident caused but negligent boaters who do not have insurance coverage.

Am I Required to Carry Boat Insurance? Before you hit the water for some fun and much-needed sun, you’ll want to know if boat insurance is required by their state. Many states require that you have the most basic tier of liability coverage, and marinas may require you to have boat insurance to properly dock at their location. If you are seeking a loan to buy a boat outright, the lender will likely require that you have sufficient boater’s insurance coverage in place. 

What Warrants Sufficient Coverage For my Needs? The total amount of boat insurance you need depends on a number of factors: these include the size of the motor, age of the vessel, value of the boat, and daily intended use. If you have a very modern speed boat boasting a massively powered engine, you will need a heightened amount of coverage for bodily injury and property damage liability as opposed to buying a slower pleasure trawling model. We recommend securing at least $1,000,000 in liability insurance, and you may need more if you have a powerful boat that poses more risk and can rapidly cause more damage to others out on the water. For uninsured and underinsured motorist coverage, a typical minimum is $10,000. The amount you are looking to secure should take into consideration the potential injuries and incurred damage you may need to be responsible for if you or one of your crew is seriously injured, or the boat suffers damage. 

What About the Others Along for the Ride? Boat Insurance will adequately cover boat passengers as well as the owner in case of a sudden accident. The passengers are covered under the liability portion that is written into the said boater’s policy. We are asked frequently about water-skiers: this is one area where one of our knowledgeable professionals can help evaluate you as the tendencies for accidents and rates can vary. 

Recreational boating is one of many Missouri residents’ favorite pastimes as it allows for the enjoyment of open space, adrenaline wave-running professionals getting their fix, and anyone who wants to chase bluegill or bass tranquil dreams of office escape come true. We hope that you come to visit us soon here at the Alexander Insurance Agency to find the best boating policy for you, and leave with the assurance that everything that happens on the water while you are enjoying “a year of reclaimed freedom” is fully covered and spoken for!

28Jun

After the nation has endured more than two years of feeling locked down in so many ways, the chance to see soul-stirring locations such as the Grand Canyon and other amazing national parks are just a start of what you can do with a well-equipped RV. There’s nothing quite as freedom-inducing as having a place to spend the entire evening on wheels, and the “Winnebago Warrior” spirit has been around for decades. Many people right here in Missouri are asking us about the different types of coverage that they will need to do the job right and feel as if they are protected in all ways once they hit the road. 

Are you Holding the Best Type of RV Insurance Possible For Your Needs? There are several different types of recreational vehicles that offer tons of sleeping space, outdoor and indoor cooking options, and the means for the whole family to escape and enjoy the great outdoors on your own terms. Here it is important to note that you may not just want to rent it, cover it, and put it in drive before you go: there are many things that you may want to learn about the handling and overall performance of your RV before hitting a place such as the Ozarks with a recreation-bound fervor! 

The main differences that we can go over with you here at the Alexander Insurance Agency of St Charles depend on whether you have a camper, motorhome, or trailer. In most states as a rule, you’ll need liability, property damage, and bodily injury as your minimum requirements for coverage. If your RV motorhome is not completely paid for by you, the lending party will want you to carry collision and comprehensive coverage to provide your due diligence protecting their property while waiting for the title transfer process to be completed in its entirety. 

Is RV Insurance Required During all Times of Operation? If you happen to damage your RV or impose injuries upon another party, you can file a claim with your insurance provider. Depending on the type of incident that occurred, your insurance policy may kick in and pay for the losses or injuries up to your coverage amount. One of the most important things to consider while looking at your options for RV coverage is that your premium is determined by how often you use it, and if it is just used occasionally or if you are using it as a full-time place of residence. 

Comprehensive Coverage will protect your RV from outright theft, vandalism, windshield damage, rocks and debris that may be kicked up, and sudden impact with animals. Collision coverage takes care of damage to your RV if an accident takes place no matter which driver was ruled at fault. Both coverages will include a deductible, which is paid out of pocket before coverage much like forms of health care coverage. 

Bodily Injury and Property Damage Liability is the coverage type that is usually the predominant one being required for motorhomes. It will act to pay for damage or injuries that you cause while driving your motorhome and will thankfully cover legal fees that could occur after any type of accident. Travel trailers do not require liability coverage because it is usually provided by the vehicle that is in place with the necessary muscle and horsepower to keep the load movin’ at all costs. 

Uninsured/Underinsured Property Damage and Bodily Injury: if your motorhome is hit and damaged by someone who is not carrying insurance at all or does not have enough to properly cover the damage they’ve caused, the uninsured and uninsured motorist property damage coverage type will pay to repair for replacement, or for any injuries that happen during the incident. 

It has been exhilarating to know that all our valued customers here at the Alexander Insurance Agency of St Charles are able to get back out and enjoy everything the fresh air and stoking challenges the wild can offer. Having a moving space in tow allows for the freedom to come back from the lake and chill out for a bit, have a movie night if the weather takes a drastic turn, or even bunk up properly with some of the extra family fun-seekers that came along for the ride. If you are just heading out for a few weeks or want to consider roving around in an RV permanently, come sit down with us and plan for being well-protected from loss, accidents, and damage: There is too much time you’ll want to spend enjoying open spaces instead of worrying about any trouble that will arise from not properly covering your necessary insurance bases!

20Jun

Once you begin the exciting process of planning a vacation and looking at the various types of accommodations to choose from, you’ll find that vacation rentals, quaint bed and breakfasts, lavish hotels, and independent contractors such as Airbnb are all now on the scene for your selection. There are many good reasons to book a vacation rental, and just as you would look at many other traits, you and your fellow vacationers should counsel how significant it is to have appropriate insurance coverage when staying at a vacation rental.

We know that everyone loves to envision the excitement of jet skis on pounding waves, ideal dinners outside at night, and the best of what a vacation has to offer, but your personal belongings along with other items need to be considered when you embark on your routine trip of seasonal summer fun. You may have an existing policy that protects your home and your belongings, such as a renter’s insurance policy or a homeowner’s insurance policy. Personal property coverage and liability coverage are two of the predominant means of protection we can offer you here at the Alexander Insurance Agency of St Charles.

What are the Most Important Means of Coverage During my Stay?
Personal property coverage is in place to protect any property that is not physically attached to buildings or structures on the real estate you are enjoying your vacation in. The personal property that is entirely covered in your homeowners or renters’ policy will kick in and cover all the dire contents of your home or even apartment, such as a stove, refrigerator, and your personal belongings like books and clothing. These policies will actually also cover other personal property that you keep in other locations, such as a nearby storage facility, and may even cover items for a next of kin’s personal property away at school in a dorm room.

The Personal Liability portion of your homeowner’s or renters’ insurance policy protects you against unexpected lawsuits for things like injury on your property, and damage on said property that you and your family members can inadvertently cause to guests. Many times, things happen in a vacation rental when the family is not paying attention and you can cause damage at the drop of a hat with something like a hot skillet or leaking cooler. Everyone who goes on vacation is also excited to bring along their favorite furry friends, this kind of coverage also protects you against damage that your overexcited canines may incur.

Other Very Useful Types of Coverage for Seasonal Stays:
Other things to consider during a seasonal summer stay are whether the vacation rental you are temporarily inhabiting is protected by a homeowner’s insurance policy. It is best to always ask the owner what type of insurance they have as a policy for the vacation rental because you want to make sure that there’s liability coverage in place to protect you if any amount of things happen to you while you are enjoying your stay. It is best to make sure that the owner has procured proper coverage for the vacation rental just in case one of your party is injured on the property if the owner is negligent.

You can stumble, fall, slip, or trip on any part of the dwelling that may not be up to code or deteriorating, and their liability coverage would be needed to assure the person who was injured had their medical bills properly covered. We can assist you before you go on a vacation because we know that the next one you take may be extended! It has been amazing to see the world open up again and all of our customers enjoying the all-out freedom of taking extended trips: there is so much to see and do out there in the wide world! A few quick questions answered on our end here at Alexander Insurance will assure that you are in good shape for the trip, the packed bags are done with due diligence, and the flight plan is booked for pre-boarding and summertime excitement!

23May

With impending natural disasters such as storms off the Gulf Coast, more wildfires in the West, and tornadoes close to us here at the Alexander Insurance Agency of St Charles, it is always important to be prepared in many ways for any events looming ahead. It is very true that disasters DON’T wait in the long run, and that knowing just what to do and when is going to provide a sense of security and a very concrete foundation for the long run.

Here are some tips for all business owners to keep in mind that will assure that you feel prepared and have both proper planning and coverage in place to weather any storm that comes your way during what has proven to be the most uncertain of times.
Give Your Provider an in-depth Review: Many instances can see your business entity suddenly outgrowing the provisions and offerings of your current provider. Companies that build their practice around selling on price may be a good fit for a 19-year-old driver or a business that has just got started, but as your market share increases your needs change drastically. What is difficult for many business owners to realize is that an intense focus on handling claims should be your provider’s best attribute.

Business Interruption Insurance is one of the most important types of coverage you’ll ever acquire but unfortunately may exclude the occurrence of pandemics as a benefit. There have been instances lately where commercial insurers re-rated their general liability policies using their reduced intake level as an indicator and saved more than 80% overall on their insurance. While doing this does not provide a replacement for business interruption insurance, taking the action made it possible to at least continue operating when reopening was an option.

The Leveraging and Peace of Mind from Liability Insurance: Business Liability Insurance is commonly known as general liability insurance, which protects against claims that could originate from anyone that is associated with your business. It could happen on your property, or could also happen somewhere else. Your products, professionalism, Fiduciary duties (such as in real estate dealings), and Cyber liability are all good things to keep in mind here.

The Worker’s Comp Bountiful Benefit: Worker’s compensation insurance protects your workers and their families when workers undergo any level of injury on the job. One of the most important things to keep in mind here is that these injuries must render the worker no longer capable of performing their daily duties, and it can be permanent or temporary. Since no insurance is, in the least, created equally, it is best to work with a company that you know will have equal treatment for disabled employees. Since so many workforces are now mobile, making sure that your insurance coverage in that domain is adequate can be challenging as well.

Different ways to Assure You’re Ahead of the Curve Regarding Auto Insurance: your needs for auto insurance will depend on the kind of business you have chosen to start. Real estate, contract ING, construction, claims adjusters and some in social work may want to consider the many benefits of carrying commercial auto insurance policies. One good rule of thumb is that if your vehicle weighs more than 10,000 pounds or has a commercial logo on its side you should be thinking about the benefits of a well-versed commercial auto insurance policy. Winning accident victim knows that a driver is approaching things from a commercial standpoint; they may think you have deeper pockets, therefore posing a grave problem.

16May

Everyone here at the Alexander Insurance Agency of St Charles knows what it feels like to take a look at the year ahead of you and want the ultimate in protection for your business interests. So many unforeseen things can happen that peace of mind on the business end is worth every valuable penny. The most common types of commercial insurance are property, liability, and workers’ compensation. 

Here is a broad overview of the different types of commercial insurance you can acquire, and the ways they can help your business through challenging times. 

Property Insurance pays for losses and damages to personal or real property. A property insurance policy would kick in to pay for fire damage to your office space, and there are additional types of very useful coverage you can purchase, including:

  • Boiler and Machinery Insurance: this is a very useful type of coverage that helps with the accidental breakdown of machinery and equipment that can temporarily cripple your incoming revenue. It will reimburse you for damage and losses that take place due to interruption of business, such as fire damage that would render your electronics useless. 
  • Debris Removal Insurance: This will cover the cost of removing elements such as leftover waste and dangerous branches after a violent storm. Before you begin the rebuilding process, the old structure’s remains must be taken away, and your property insurance policy will cover the cost to rebuild from the ground up.
  • Builder’s Risk Insurance: This type of insurance will cover buildings during the vital (and vulnerable) construction phase. If an act of God such as a tornado takes place, you’ll be covered if your half-constructed structure undergoes massive damage.
  • Glass Insurance will cover broken store windows, an occurrence that can sneak up fast during storms AND pockets of civil unrest.
  • Inland Marine Insurance will cover valuable property during transit, and customers’ goods that are temporarily housed at your business for service. Good examples are things like electronics in for repair or clothing that could be damaged during time at a laundromat. 
  • Business Interruption Insurance will cover the burden of lost expenses and income that takes place after you suffer damage on the property. If a flood or fire causes you to close for two months, this insurance would reimburse you for paid out wages, rents, taxes, and net profits that could have been enjoyed during the period after the hardship.
  • Ordinance or Law Insurance covers the costs associated with having to completely demolish and then rebuild up to code after your building has been partially destroyed. If an event such as a flood destroys the basement and first two stories, a local ordinance may mandate that the building is unfortunately destroyed and rebuilt according to the existing code. The actual property insurance will cover the replacement value, but not the tedious upgrade.
  • Tenant’s Insurance: This comes into play to cover damages to improvements you make to your rental space and damages that may happen within the building that can occur due to employee negligence. This could take place during events such as repair or cleaning. 
  • Crime Insurance covers property crimes such as burglary, theft, and missing money from employees and those who are not. Even though investigations may sometimes seem lengthy, this coverage is well worth it in the end.

Liability Insurance will cover any injuries that occur to third parties on the premises. If you were to be sued for personal injury or property damage, the cost of defense would be fully covered by your policy. A general liability policy will cover any events that happen to customers while on the premises such as falling on the ice. 

Malpractice Insurance will pay for losses that result from injuries to third parties when the actions of a trained professional fall below their barred standard of performance. If a medical surgeon or other practitioner makes a grave error, there is a chance that the patient may sue them in a court of law. The malpractice policy can pay for their defense costs and any judgment that may result after the action. Even the real estate profession can benefit from this type of protection, as well as architects, dentists, and financial planners. 

Which Type of Commercial Insurance is Right for me? Now that you have had a chance to review the various types of business insurance policies in place to help you, an experienced team such as ours can provide you with the ideal advice. Severe weather has most definitely been a huge issue across the United States lately and being protected from this type of peril is one of our top priorities here at Alexander Insurance. There is nothing better than the feeling of knowing you are covered if anything bad happens to you and your important business interest!

You may have recently become a landlord, commercial property leaser, or have taken the plunge to answer your calling and open a collectible or memorabilia-themed store. We can show you the appropriate coverage to have, just how much, and what kind of terms will fit you best. After knowing so many in the St Charles area that have been in business for years doing what makes them happy, we take our knowledge and expertise to next-level status daily by always having a plan for your progress and ultimate protection!

09May

The world of cars and trucks has some new and very groundbreaking developments planned for 2022, as Ford is going to officially introduce the F-150 Lightning, Chevy will pull the wraps off its all-electric Silverado, and Tesla will have their own cybertruck version grace the proverbial stage of the current market. Locating the ideal type of auto insurance, you can track down to protect you may not be as thrilling as driving back roads in a brand-new electric truck, but it can provide the utmost safety and protection.

Here are a few tips that will help you navigate the insurance ropes during 2022 and allow you to get the most out of your policy while resting assured that you are covered if anything unexpected happens on the road. 

Benefitting From The Pay-Per-Mile Option: Some are not driving as much now because they left jobs, and some are still enjoying the benefits and comfort of working from home while conditions last. Whichever suits you, you may want to try out an alternative car insurance pricing model that has its perks, such as pay-per-mile insurance. Here you are charged a base rate per month plus a per-mile rate, since your provider knows that you won’t be going much further. If the office calls you in to begin doing things their way once again, you can simply shop around with someone such as us here at Alexander Insurance for the policy that fits your needs best. 

The Ability to Save if you don’t Mind Prying eyes: The many elements that we will all see coming soon in the future will give private entities the power to see what you are always doing. If you are looking for a sizable car insurance discount, the opportunity to check out usage-based insurance could be beneficial. Through vast research during 2021 it was found that many drivers believe the top three factors to be scrutinized should be their previous driving record, how many miles they are clocking, and their overall level of safety. 

Usage-based insurance takes these attributes into account and uses a plug-in app to closely monitor your driving habits. If you score well, you could receive a sizable discount on your premiums, and every insurance company is now implementing this option. Programs such as this are bound to become more and more popular as real-time data remains king.

The Monumental Benefits of Teen Driver Monitoring Technology: Usage-based insurance may also be a great choice if a teen driver is part of the pack on your insurable list. You can see a very detailed report through the UBI program and if the results are favorable, you’ll enjoy a discount on rates that are currently very high for teen drivers. If your teen happens to not be using the best driving practices, you can at least take a close look and see where they could benefit from improvement. Technology that is currently available is at a mind-boggling level: you can keep a watchful eye on them and assure that every time they get on board they are adhering to important boundaries.    

Acquiring Adequate Coverage for Delivery Gigs: Whether it is one of the teen drivers we just mentioned or anyone else in the house using a car for a delivery gig, it is important to check with us to make sure you have obtained the correct and sufficient coverage. This is a business rather than personal use for the vehicle, and things get just a bit different legally if you do happen to get in an accident. Your insurance company may have the right to deny the claim, which leaves you stuck paying out-of-pocket for the necessary repairs and hospital costs. Finding ideal coverage for the now very popular side job of delivery can help you avert a potentially large problem if anything happens with “warm pie in your backseat on the clock”!

The Safety and Simplicity of Contactless Car Insurance Claims: Depending on how severe your claim is, you may be able to get through the entire process from the comfort of your home. A detailed photo of your car’s damage via text can get the ball rolling on an estimate for full repair, and then you can receive instant payment without waiting for any postal mail transfer time. It was not just the onset of the pandemic that made tasks like this so much easier, since the industry as a whole was already desperately in need of simple solutions and expedited options after any incident. 

Make sure to come and visit us here at the Alexander Insurance Agency of St Charles to see which car insurance options are best for you! There are many ways we can make sure you receive a sizable discount, and still enjoy the most premium protection and class-leading coverage you’ll find anywhere, with a longstanding promise and industry’s best level of satisfaction.

02May

Whenever you are given the chance to save money during very stressful times, it always feels rewarding and creates a sense of safety. Part of shopping around is the way to reduce your insurance coverage amount, and it becomes easy to just focus on the numbers. Reducing the amount of coverage or dropping pertinent coverages altogether is a bit like being on a diet minus the cardio: the results may not actually be too stellar! One of the risks you do NOT want to take is to be dangerously underinsured and on the hook for much bigger bills in case a serious disaster occurs. 

With some of the issues we have noticed lately here at the Alexander Insurance agency of St Charles being strictly revolving around current trends and the economic climate, these are still a few recommendations we can make that will protect you from suffering the consequences of a bad choice. Here on our blog today we will share with you the five most common auto, flood, and renters’ insurance mistakes that you’ll want to be sure to avoid during 2022.

The Various Ways to Safely Cover a Dwelling: When the price of real estate goes down, some homeowners may think that they can reduce the amount of insurance they take out every month. The insurance’s prime purpose is to cover the cost of rebuilding, not the sales price that the home would generate on the current market. It is recommended to have enough coverage to entirely reconstruct the home and replace all your belongings and raising your deductible can save you a healthy fraction on your necessary premium payments. 

Going with a Company as a Direct Result of Price: We know just how important it is to look down at your balanced checkbook every month and see that every choice you made has saved you money and left you with at least a bit left to spend on your monthly needs. Even if who you choose gives you an amazingly low rate, it is important to know that they should provide stellar customer service and handle all claims quickly and with fairness. 

The Mistake of Foregoing Flood Coverage: When the rains pour with a fervor and you realize that you may have sustained damage where you live, it is not always covered under your standard homeowners’ and renters’ insurance policies. 25 percent of all flood losses will happen in areas previously determined as low risk, and sudden melting along with constantly changing weather patterns can rapidly cause flooding. While you are in the process of buying a home, you can check with the NFIP to see if a property you have a vested interest in is in a flood zone, and if it is, you can opt for a purchase that is in an area bearing less risk.

Purchasing the Bare Minimum for the Drive: Once you get behind the wheel of a car, every state has mandated the bare minimum of what you can have to drive on the road, and still be legal if pulled over. If you abide by only the lesser value of what it takes to be legal, you could incur a high amount of expenses that will mount greatly if you are involved in a lawsuit later. One valuable tip here is to keep in mind that if you drop collision and comprehensive coverage on older cars that are now commonly seen on the road, we recommend carrying a minimum of $100,000 of bodily injury protection per person and well over $250,000 per accident for coverage. Not Purchasing Renters’ Insurance: The all-important renters’ insurance policy will cover your possessions and any additional expenses for living if you must move out due to a disaster covered under the policy guidelines. With fires becoming more and more common in many areas of the nation, this can protect you greatly if you have an injury in the home and a lawsuit is filed. If you purchase several different policies with the same insurer such as us here at Alexander, you can enjoy savings and the beneficial coverage of renters, auto, and life insurance while being able to know you will not have to endure any hardships without being taken care of by the best in the business. As the spring season is here and so many people are moving, graduating, and making other very important life decisions, we can consult and guide you while providing the savviest and most thorough coverage for your future!

25Apr

When you start to assume adult responsibilities, live life to the fullest, and own cars or property, you’re most likely bound to have some form of insurance. Every day there are important decisions to be made about your potential coverage, such as the deductible you are comfortable with or discounting the risks of you personally experiencing any impact on your business or residence. There are many cases where it is possible to buy too much coverage, and many other decisions when life changes that need attending to regarding insurance.
Christophe Bourguignat is CEO and co-founder of insurance tech provider Zelros, and provided some great tips for anyone looking to purchase insurance in 2022. These tips cover some of the most important aspects of buying and investigating plans, and the pros and cons of different plans of action.
Meeting of the Minds to Manage Risk: During the pricing of your insurance, many factors are considered during the acceptability and pricing. If you have property on the coast you’ll risk damage from storms, and every insurance company has its own formula to address the risks they will take on from every single client that could be exposed to very life-changing events at the drop of a hat. All of us here at the Alexander Insurance Agency pride ourselves on creating personalized insurance instead of just giving you a lightning-fast quote, as we want to personally assess risk in the best manner possible.
Tremendous Benefits of Transparency: When you are applying for insurance, the premiums and the coverage are determined based on the details that are known about you. If you try to get lower-cost coverage by not being honest about what you need or your past is only going to cause you a bigger headache down the road, when you may have an urgent need for the kind of coverage you were originally on the hunt for. Depending on the level of seriousness of the misinformation you gave, you may face the problem of a suspended policy or be reported for fraud.
Low-Cost Sometimes Proves to be a Huge Problem: Everyone wants to spend a low cost for their insurance needs, and when designing your plan for how much risk you want to take on, it’s best to start with the one that will bear the largest potential financial impact, and then work backward. Anyone on the hunt for insurance coverage is worried about spending time and money but opting for low-budget coverage could really hurt you in the end. It’s also very important to pay attention to the fine print regarding insurance coverage, and all the various costs and regulations that are spelled out in a policy or notice.
When Life Proves to Defy Drawn Out: When we are young and feel as if nothing can ever sink our boat, life insurance is something that some of us think we’ll never require. But since life insurance is more accessible and affordable at a younger age, obtaining it then can allow you to plan for future events calmly such as taking out a mortgage, having kids, or setting aside money for large expenses like college. As the aging process continues, the need for long-term care and disability begins to be more and more important as places in your personal risk management plan.
Making Sure that your Risk is Aligned with Reason: What can often be quickly dismissed when purchasing insurance is the option of being ok with a higher deductible to secure a lower monthly premium. If you can set aside the money for your deductible in a fund reserved for dire emergencies, you can then use these funds towards the higher premium to pay off debts or spread some investments across various parts of the market. You can practice this with any of your insurance policies, yielding positive results whether it’s with business, auto, or home insurance.
All of us here at Alexander Insurance understand that you always want the best coverage for the best cost, but may have various questions regarding the ever-changing path to the finish line. We are excited to meet with you soon to prepare the best plan of attack for you to have assurity, longevity, and safety across every family or business endeavor you choose in life!

21Mar

There is nothing more frustrating to a driver than car insurance prices going up for seemingly no reason. There are many factors that can make the price of car insurance suddenly increase. Some are directly related to your driving habits, while others are a bit beyond the policyholder’s control. Here are some of the most common factors that can lead to an increase in insurance rates that you may not be expecting. 

  • Claims history and your longstanding driving record
  • Your past history of convictions and other driving violations
  • Change in residential ZIP code
  • New drivers added to the policy
  • A sudden cancellation of home policy, or other policy causing the loss of the multi-policy discount.
  • Any removal of a vehicle from the policy, causing the loss of the very effective multi-car policy discount.
  • A change in employment that results in the loss of a group or any professional discount.
  • Any pre-existing or reoccurring serious medical condition
  • Errors that insurance companies make
  • Any changes to the payment plan fees or overall structure on the insurance plan.

Every month as you and your family are going through the finances, it can be a surprise when extra bills and/or additional costs come up. These are some of the factors that can raise premiums that are sometimes beyond your control: 

  • Liability Claims Paid by the Insurance Company: If the previous year saw an increase in the amount that insurers are paying out after a claim, then adjustments can be made. 
  • Collisions in Your Area: Accidents may be due to the change that the traffic flow is experiencing, trouble from weather, or an increase in traffic congestion over time. Insurance providers will adjust their rates based upon these factors, which are unfortunately a common occurrence as urban areas experience growth.
  • Increased car thefts in your area impact both new and older cars each time the yearly stolen vehicle statistics are released. Any successful entity providing insurance is going to want to take note of what models are alluring targets, and the addition of anti-theft devices or vehicle engraving can sometimes get a discount to help ease the increases in premium price.
  • The Growing Epidemic of the Uninsured: From 2010 to 2015, the number of uninsured drivers on the road increased from 12.3 percent to 13 percent. Insurance providers will pay billions of dollars each year on claims that fall upon the backs of the uninsured, and to offset these costs, insurance companies must make the decision to raise premiums for everyone holding policies. 
  • Casualties of Credit Score Changes: Intense calculations are involved when trying to find optimal insurance rates, and most companies use your credit score as a factor when determining insurance rates. As tough as a pill it can be to swallow, lower credit scores can prove to be a greater risk for drivers.
  • Rate Increases Under the Guise of General Underwriting Principles: When insurance companies such as our experience losses that exceed our beginning expectations, rates will need to increase to remain profitable. This revolves heavily around the principles that govern insurance even beyond supply and demand: the policy buyer must understand that you are buying into an ability to protect you if anything goes wrong, and if it does so, all of us here at the Alexander Insurance Agency of St. Charles need to be waiting to back you up, settle claims, and be there for you during your time of need. 

At Alexander Insurance, we make sure you are getting the best price and features with your policy. There are many creative and constructive ways to obtain better rates for you! Contact us now for a quote that provides you with the rate you deserve!

25Feb

In 2021, an estimated 31,720 drivers died in car crashes, which represents a 12% increase over the previous year. Even though America was in the process of locking down and sending workers to be productive at home, road fatalities were rising dramatically. This spike is the most drastic year-over-year rise ever recorded, and the fatality rate was already beginning to soar exponentially. The rising fatality rate on U.S. roads is going to undoubtedly make car insurance rates higher for all drivers.


Why are Car Insurance Prices Rising so Dramatically?
Since insurance companies are paying out more in claims after these accidents, the inevitable higher costs will hike premiums for all types of drivers looking for comprehensive or full coverage to be on the road.


When the pandemic first began, auto insurance companies were offering rebates because of the increase in safety due to less congested roads. But when the numbers rolled in, it was evident that increases in rates were unavoidable. According to INSURIFY, a large online marketplace for insurance, the average annual cost for an auto insurance policy in 2021 was $1,663 – which was a 12% increase over the previous year. Other reliable entities are projecting a further increase of 5% for 2022, meaning the average policy could run over $1,700 this year.


Keeping Your Policy at a Reasonable Rate:
Inflation and dangerous driving are a couple contributing factors in this jump in prices. Sometimes the domino effect of a job loss, other health issues like hospitalization, and debt that was already incurred before the pandemic are influencing many drivers’ daily habits. As stress levels rise across the country, drivers may not be totally focused on the road.


We have been watching these trends for some time, and can help you lower your rates to more reasonable level. Just as with any financial transaction, no one enjoys sticker shock! If you happen to live close to your urban area’s downtown, your rates may be higher, due to the sheer number of accidents in more crowded areas. But we have surprisingly seen this trend change a bit as of late, since even those moving out to the suburbs have experienced higher fatalities as the stress of being cooped up during the pandemic has caused drivers to get behind the wheel recklessly and with a bit more angst.


How Alexander Insurance Can Help:
We can sit down with you and perhaps have you switch to a higher deductible, and then touch base periodically to look around for a more affordable policy. Taking the step to bundle your home insurance with car insurance can be a great help and offer you the peace of mind that comes from taking care of a few different elements of coverage with one provider. We are always willing to adapt to the challenges of a constantly changing landscape and review your policy options to provide for you the most cost-efficient and reasonable means of roadworthy coverage.